Bitcoin

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Bit Coin

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•       Bit Coin is a Digital Currency, actually it is first Decentralized Digital Currency.
•        It is a Cryptocurrency and also Worldwide Payment System.
•        It is Digital means no bill to print or coin to Mint.
•  Second thing is Decentralize means-there is no institute,bank,government or authority that control it.
•      So basically it’s the system works without any Bank or ant Administrator.
•     The original author of Bitcoin is Satoshi Nakamoto-Actually a unknown Person or Group of People.
•   The Network used in this System is Peer to Peer  and Transaction takes place between users without intermediary.
•   BitCoin used Cryptography for its secure transmission,to verify the transfer of additional units.
•    White paper that was published on 31 october 2008 defined the word bitcoin first.

This word is combination of BIT and COIN

•        Bitcoin is the unit of the bitcoin system.
•        BTC and XBT are the ticker symbols used to present the Bitcoin.
•       ₿ is the Unicode character of Bitcoin.
•  If the amount of the Bitcoin is small than its used millibitcoin(mBTC) ,Satoshi(sat)And bit (ƀ).
•   In this satoshi is the smallest amount within bitcoin,its represent 0.00000001 bitcoin.

•        The domain name “Bitcoin.org”was registered on 18^th Augest 2008.
•        In November 2008 a link was posted by satoshi nakamoto whose title is “Bitcoin : a peer-to-peer electronic cash system.
•   Bitcoin software is a open source code software and is implemented by the nakamoto and released in January 2009 on the Sourceforge.
•       When nakamoto mined their first ever block on chair which is known as genesis bank bitcoin network come into Market.